Due to a change in State of Iowa legislation the school district is going to schedule an election on whether voters wish to approve a new revenue purpose statement for the penny sales tax for school infrastructure for 2011. The new state law changes the current school infrastructure penny sales tax from a local county tax to a statewide tax and therefore the district needs voter approval to extend the current Pocahontas County revenue purpose statement so the district can continue to use the new statewide sales tax for schools. The revenue purpose statement is the document which provides information concerning what purposes the school district can spend the sales tax proceeds on.
If the Pocahontas Area voters approve this revenue purpose statement ballot measure, there will be no increase in the sales tax charged to taxpayers, the school district will receive the same amount of annual funding from this penny sales tax, and the purposes for how the school district can spend the funding remains basicly the same. In general, what does the Revenue Purpose Statement allow the sales tax proceeds to be used for?Uses of the tax include:
To provide funds for property tax relief.
To provide funds to build and furnish a new school building or buildings; to build and furnish addition(s) to school buildings in the District; to remodel, repair, expand, and improve the school buildings in the District; to purchase and improve grounds; for demolition work; to furnish and equip district facilities.
To provide funds for the purchase, lease or lease-purchase of buildings or equipment (including transportation, technology and recreation equipment) as authorized by law, to implement energy conservation measures, sharing or rental of facilities, procuring or acquisition of libraries, or opening roads to schoolhouses or buildings.
To provide funds for emergency repairs to respond to natural disasters, such as fire, wind damage, flood; unanticipated mechanical, plumbing, structural, roof, electrical system failures; environmental remediation; or to respond to changes in demographics that require construction of additions or improvements to school buildings or new school buildings.
To provide funds to establish and maintain public recreation places and playgrounds; provide for supervision and instruction for recreational activities; or for community education purposes; and other authorized expenditures and purposes as now or hereafter permitted by law and designated by the Pocahontas Area Community School District.
To provide funds for the payment of principal and interest or retirement of general obligation bonds issued for school infrastructure purposes, energy improvement loans, loan agreements authorized by Iowa Code section 297.36, sales, service and use tax revenue bonds issued under Iowa Code section 423E.5.
The bond referendum petition approved by the board and voters in December of 2008 states that penny sales tax for school infrastructure will be used to buy down the bonds of the HS/MS classroom addition to the extent possible.
“…to apply a portion of school infrastructure sales, services and use tax receipts to abate and reduce the levy of taxes to pay principal and interest on the Bonds?”
The current Revenue Purpose Statement will expire in Feb. 2014, and the new revenue statement is needed to continue to prioritize reducing the levy of taxes to pay principal and interest on the General Obligation Bonds for the HS/MS addition after Feb. 2014.
If the Pocahontas Area voters approve this revenue purpose statement ballot measure, there will be no increase in the sales tax charged to taxpayers, the school district will receive the same amount of annual funding from this penny sales tax, and the purposes for how the school district can spend the funding remains basicly the same.
In general, what does the Revenue Purpose Statement allow the sales tax proceeds to be used for? Uses of the tax include:
The bond referendum petition approved by the board and voters in December of 2008 states that penny sales tax for school infrastructure will be used to buy down the bonds of the HS/MS classroom addition to the extent possible.
“…to apply a portion of school infrastructure sales, services and use tax receipts to abate and reduce the levy of taxes to pay principal and interest on the Bonds?”
The current Revenue Purpose Statement will expire in Feb. 2014, and the new revenue statement is needed to continue to prioritize reducing the levy of taxes to pay principal and interest on the General Obligation Bonds for the HS/MS addition after Feb. 2014.